Sec. 102. Expansion of licensing requirements for transactions in North Korean covered property

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Except as provided in paragraph (2), not later than 180 days after the date of the enactment of this Act, the President shall prescribe regulations prohibiting any transaction involving the manufacture, sale, purchase, transfer, import, or export of North Korean covered property by a United States person or conducted in the United States. Except as provided in subparagraph (B), the Secretary may grant licenses and permits for the following purposes: For any purpose covered by an exemption or waiver under section 208 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9228 ), including humanitarian, diplomatic, consular, law enforcement, and other purposes.

To import food products into North Korea if such food products are not defined as luxury goods. To meet an urgent and compelling humanitarian need. For activities to promote human rights in North Korea, the development of private agriculture and markets in North Korea, and the free flow of information to, from, and within North Korea. To import agricultural products, medicine, or medical devices into North Korea if such products, medicine, or devices are classified as designated EAR 99 under subchapter C of chapter VII of title 15, Code of Federal Regulations, or any successor regulations (commonly known as the Export Administration Regulations ), and not controlled under— the Export Administration Act of 1979 ( 50 U.S.C.

App. 2401 et seq.), as continued in effect under the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq.); the Arms Export Control Act ( 22 U.S.C. 2751 et seq.); part B of title VIII of the Nuclear Proliferation Prevention Act of 1994 ( 22 U.S.C. 6301 et seq.); or the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 ( 22 U.S.C. 5601 et seq.). The Secretary may not grant a license or permit under subparagraph

(A)for an activity described in section 104(a) of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9214(a) ). A person shall be fined not more than $5,000,000, imprisoned for not more than 20 years, or both, if the person knowingly— engages in a transaction described in subsection (a)(1), except pursuant to a license or permit granted under this section or regulations prescribed pursuant to this section; or evades a requirement to obtain a license or permit under this section or a regulations prescribed pursuant to this section. Any property, real or personal, that is involved in a transaction that is a violation of subsection (a)(1), is involved in an attempt to conduct such a transaction, or constitutes or is derived from proceeds traceable to such a transaction, is subject to forfeiture to the United States. Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the President shall submit to the appropriate congressional committees a report listing any licenses or permits granted under subsection (a). Each report required under paragraph

(1)shall be submitted in unclassified form but may include a classified annex. Not later than 30 days after the submission of a report under paragraph (1), the Secretary of the Treasury and the Secretary of State shall each publish the unclassified part of the report on a publicly available Internet website of the Department of the Treasury and the Department of State, as the case may be. The President may terminate the prohibition on transactions described in subsection

(a)and the imposition of penalties under subsection

(b)if the President submits to the appropriate congressional committees the certification described in section 402 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9252 ). Section 1956(c)(7)(D) of title 18, United States Code, is amended— by striking or section 104(a) of and inserting section 104(a) of ; and by inserting before the semicolon at the end the following: , or section 102(b) of the . Banking Restrictions Involving North Korea (BRINK) Act of 2017 (relating to transactions in certain North Korean property)

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Sec. 102

Expansion of licensing requirements for transactions in North Korean covered property

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